Is JP Morgan seeing something we don't know?: 13% unemployment,gross domestic product drops 8%,Home prices dropped 20%.
The G-SIN is contrived,artificial and duplicative and doesn't recognize that while some companies were "too big to fail" during the financial crisis,some also were ports in storm.
We(JP Morgan) were one of the better actors in this situation-but not good enough ;We (At JP) made too many mistakes (about mortgages).
JP Morgan Chase was to pay out the following: Cash payments of approximately $1.1 billion to 50 states.$500 million to REFI underwater borrowers in 2011.
High economic uncertainty, a weak recovery in the USA and large potential problems in Europe,some of JP's worries in 2011.
A low interest rate environment causing reduced margins.
The continued poor housing market in the USA a concern of JP.
Ongoing litigation around mortgage securities on concern of JP.
Ongoing anger at banks,which can lead to even more regulations and litigation concern of JP.
Increasing global competition from large banks and less regulated shadow banks a concern of JP.
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